New PlainTalk Planning Website on Family Business Succession Planning
PlainTalk Planning released today a website for its free 83-minute business planning program entitled "Family Businesses: Strategic Succession Planning for the Next Generation." The program is presented by Professor Dwight Drake of the UW Law Sc
Online, July 2, 2012 (Newswire.com) - PlainTalk Planning released today a website for its free business planning program entitled "Family Businesses: Strategic Succession Planning for the Next Generation." The program is designed for business owners, professional advisors, and students. The program offers a free 83-minute online video presentation and an optional upgrade that provides a supplemental 44-page written memorandum and unlimited access to an online learning quiz. The quiz features 25 multiple-choice questions and instant correct-answer feedback. The program's new website address is www.familybusinesstransitionplanning.com. The program is authored and presented by Professor Dwight Drake of the University of Washington School of Law.
"Most successful businesses in America are dominated by a family that wants to keep the business in the family but has not developed a strategic transition plan for the next generation," said Drake. "A smart plan takes time, energy, and a willingness to tackle challenging family, financial, and tax issues. What's most important is that the process be driven by the specific objectives of the family. Planning blunders and complicated strategies that offer little or nothing for the particular family need to be avoided. The goal is a plan that accomplishes the highest priority objectives over a period of time and at a level of complexity that works for the family. Our free video presentation is loaded with useful information. The detailed 44-page written memorandum and our online learning test will help those who want to dig deeper and those who want to use the program for training purposes."
Professor Drake's planning presentation discusses key starting points, five essential plan elements, important timing considerations, 11 traps that must be avoided, equity transfer options, strategies for phasing out, and complicated options that often don't work. A case study is used throughout the presentation to illustrate key concepts.
The free online presentation can be viewed anywhere, anytime, and multiple times through a computer or any handheld wireless internet access device. There is a $12 charge for the optional upgrade that includes the written memorandum and unlimited access to the online learning quiz.